Accountancy profession cannot ignore Artificial Intelligence

DUBAI — Artificial Intelligence (AI) will transform accountancy and the profession needs to prepare, according to ICAEW. In a landmark report Artificial Intelligence and the Future of Accountancy, launched today, the accountancy and finance body says the profession needs to accept that machines will take over more and more decision-making tasks from humans, and work out how to harness this.The report said while accountants have used technology for decades to enhance the value they can deliver, the pace of change and the power of Artificial Intelligence means a paradigm shift is coming. Kirstin Gillon, ICAEW’s IT Technical Manager, said: “AI systems are already very powerful and they are improving quickly. They provide outputs that are extremely accurate and can replace – if not supersede – human efforts.”However, the report does…


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